GBP/USD Forecast: Pound Sterling sellers hesitate as key support holds
GBP/USD closed in negative territory on Thursday and Friday to end the previous week virtually unchanged. The pair gains traction in the European morning and recovers toward 1.2950.
The renewed US Dollar (USD) weakness at the beginning of the week helps GBP/USD hold its ground, as the market mood improves on easing fears over aggressive reciprocal US tariffs. Read more...
GBP/USD attracts some buyers to near 1.2950 as traders await US PMI release
The GBP/USD pair attracts some buyers to around 1.2940 during the early European session on Monday, bolstered by the softer Greenback. The uncertainty about US President Donald Trump's next round of tariffs and concerns over the US economic slowdown weigh on the US Dollar (USD) against the Pound Sterling (GBP). The preliminary reading of the US S&P Global Manufacturing Purchasing Managers Index (PMI) for March will take center stage later on Monday.
The Greenback remains under pressure as analysts believe Trump’s aggressive and erratic trade policies could trigger a recession. Trump has declared April 2 to be "Liberation Day" for the US, when he will implement so-called reciprocal tariffs that seek to equalize US tariffs with those charged by trading partners, as well as tariffs on sectors such as automobiles, pharmaceuticals, and semiconductors, which he has repeatedly stated would be enacted on that day. Read more...
GBP/USD Weekly Outlook: Geopolitical and economic concerns weigh on Pound Sterling
The Pound Sterling (GBP) corrected after topping near 1.3000 against the US Dollar (USD) mid-week. However, the GBP/USD pair holds at its highest level in four months.
Over the weekend, the US launched large-scale airstrikes on Yemen, targeting the Iran-backed militant group Houthis. In response, Houthis attacked US vessels in the Red Sea, which Trump vowed to stop, warning that "hell will rain down" if they continue. Read more...
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EUR/USD holds firm above 1.1100 ahead of US inflation data
EUR/USD clings to marginal gains above 1.1100 in the European session on Tuesday. The pair firms up as the US Dollar extends pullback as traders resort to repositioning ahead of the key US CPI data release. ZEW Survey - Economic Sentiment in the Eurozone improved to 11.6 in May from -18.5 in April.
GBP/USD stays well bid near 1.3200 after UK employment data
After posting large losses on Monday, GBP/USD trades marginally higher at around 1.3200 in the European session on Tuesday. The data from the UK showed that the ILO Unemployment Rate edged higher to 4.5% in the three months to April, as expected.
Gold price recovers as US-China trade agreement euphoria fades quickly
Gold rebounds and trades near $3,260 at the time of writing on Tuesday, recovering from the 2.65% drop the previous day after the US-China trade deal was announced. Traders are starting to get wary about the lack of detail in the announcement, and another flare-up could propel bullion back toward the record high set last month.
US CPI set to show stable inflation in April as markets weigh early impact of tariffs
The high-impact United States Consumer Price Index (CPI) inflation report for April will be published by the Bureau of Labor Statistics on Tuesday at 12:30 GMT. The inflation index is forecast to rise at an annual rate of 2.4% in April, at the same pace as in March. The core CPI inflation is expected to stay at 2.8% year-over-year (YoY) in the reported period.
Rising after the thaw: China's economy post-trade truce
The U.S. and China agreed to temporarily roll back tariff rates on each other this past weekend. “Temporary” defined as a trade truce for the next 90 days, which despite being provisional, is significant given the harsh escalation in tensions just a month ago. Trade developments between the U.S. and China have once again moved quickly.
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